Definition of "Robbery"
Use of the threat of violence or actual violence in taking property from someone else's possession. This peril is covered on a personal basis through the purchase of a homeowners insurance policy or renters insurance or on a business basis through a special multiperil insurance (SMP) policy. Specialty items such as coin and stamp collections must be specifically scheduled on a property policy in order for the insured to receive full value for a loss.
Popular Insurance Terms
Premiums paid with funds that are not borrowed from life insurance. It is important to ascertain the finance charges and the costs/benefits of such a transaction. ...
Discharge of electricity from the atmosphere, one of the perils covered in most fire insurance policies. ...
Earliest age at which an employee can retire without a penalty reduction in pension benefits after having reached a minimum age and served a minimum number of years with an employer. ...
For loss of an obligee in the event that the principal fails to perform according to standards agreed upon between the obligee and the principal. ...
Arguments composed of assumption of risk, contributory negligence, and fellow servant rule. ...
Type of mutual insurance company that requires a substantial initial premium payment. After the initial premium payment is made, future premium payments required will be paid from the ...
Written statement by an insurance company attesting to the powers it has vested in an agent. ...
Arrangement, often funded by life insurance, to continue an employee's salary in the form of payments to a beneficiary for a certain period after the employee's death. The employer itself ...
Person other than the annuitant as designated by the policyholder on whose life expectancy the annuity payment is also based. ...
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